Frankfurt Encouraging corporate results and optimistic outlook buoyed investors on Wall Street on Thursday. The Dow Jones gained 1.6 percent to 32,637 points. The tech-heavy Nasdaq advanced 2.7 percent to 11,741 points and the broad-based S&P 500 gained 2 percent to 4,058 points.
The US economy shrank a little more than expected in the first quarter. However, Thomas Hayes, manager at wealth manager Great Hill, took this as a sign that the US Federal Reserve could slow down the pace of its rate hikes in a few months. “The numbers suggest that growth is slowing, demand is slowing and maybe even inflation is slowing.”
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